Poppy — DevLog #2
Token Distribution Update
TRC10 vs TRC20
Over the past month the Poppy development team has been working on the creation of the Poppy token. It has always been our intent to issue Poppy as a TRC20 token. At the time this decision was made, a TRC20 token was the most effective way available to accomplish the functionality desired for Troncard, GRID, and Poppy.
With the recent release of Java-Tron 3.2.1 it has come to the attention of the Poppy team that another opportunity exists, in the near future a TRC10 version of the Poppy token may be possible. A TRC10 Poppy token would have some advantages over a TRC20 based on how they interact with the TRON Network. However, due to some of the automated transactions that occur on Poppy, there may also be reasons why it is not the best choice. Until we fully explore this new option, we simply don’t know which is best suited.
We are dedicated to issuing the best and most efficient Poppy token possible. We want to ensure it works not only for today, but into the future as well. With that in mind, we will share what we have discovered.
Poppy as TRC20
Some of the utility for Poppy will require it be capable of being fractionalized. Fractions of Poppy can be handled through smart contracts as a TRC20 token today, although doing so requires the use of energy for every transaction. It was Poppy’s original intent to create a smart contract for transactions and to freeze sufficient TRX to support this contract and all users of the token. The total amount of frozen TRX required would be dependent on the use of the network and amount of transactions that may be processed that utilize Poppy.
In order to accommodate Poppy, a substantial amount of TRX would be required, or a set bank of TRX would need to be reserved and consumed to cover the transaction fees incurred by users of the contract.
This was all included in the original design of the Poppy token.
Poppy as TRC10
Until recently TRC10 was not an option for Poppy. TRC10 tokens did not support being broken into fractions, nor were these tokens able to be incorporated into smart contracts.
As of the 3.2.1 Java-Tron update, a proposal for “Allowing Same Token Name” was added as a possible proposal for Super Representatives to vote on. Approving this feature would allow for two tokens to possess the same name on the TRON Network. If approved, this proposal would likely cause a significant amount of work in current DApps to update them to the new standards and reference Token IDs. However, an added utility would allow for TRC10 tokens to be used with a decimal, just like TRC20 tokens.
This new proposal comes with several potential complications. Specifically, the “Allowing Same Token Name” may cause confusion to users of the TRON network if applications don’t update the way they handle TRC10 tokens. A substantial amount of effort would be needed to revise current wallets and applications to incorporate “Token ID” in addition to name.
The above issues aside, this proposal to change the TRC10 protocol would mean the Poppy token could be transacted using only Bandwidth. This is a process most TRON Network users are familiar with today that would result in a lower operating cost and could be extremely important once we have a large transaction volume.
We understand the community’s frustrations with communication regarding this potential change at a critical stage in Poppy’s development. We agree the time had come for a community update despite the decision still pending. Our hope was through a review process we would come to a final determination and be able to announce that decision. We have been diligently investigating the best option to choose, and apologize that we did not break away sooner to provide this information. With that in mind, rest assured that we do have a hard deadline.
Despite the time we are taking to investigate this opportunity, we are committed to debuting Poppy at our San Francisco pop-up on January 17, 2019. The Poppy token will be utilized at that time, so won’t be delayed beyond that date.
Thank you for your support and understanding.
The Poppy Team
If you enjoyed this post and you’d like to see more like this, hit that clap button. The more times you clap, the more people can find it.
Website: PoppyPOS.com
Twitter: https://twitter.com/PoppyPOS
Facebook: https://facebook.com/PoppyPOSapp
Instagram: https://www.instagram.com/Poppy_POS
Telegram (English): t.me/PoppyPOS
YouTube: https://www.youtube.com/sesameseedorg
Reddit: https://www.reddit.com/r/sesameseed_community
Medium: https://medium.com/sesameseedorg
